Edgestream Partners L.P. Sells 83,140 Shares of News Co. (NASDAQ:NWS)

Edgestream Partners L.P. decreased its holdings in shares of News Co. (NASDAQ:NWS) by 53.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,407 shares of the company’s stock after selling 83,140 shares during the period. Edgestream Partners L.P.’s holdings in News were worth $2,084,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd boosted its stake in News by 69.9% in the 1st quarter. Covestor Ltd now owns 1,201 shares of the company’s stock worth $33,000 after purchasing an additional 494 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of News in the first quarter worth approximately $65,000. iA Global Asset Management Inc. bought a new stake in shares of News during the first quarter valued at approximately $76,000. ORG Partners LLC purchased a new position in News in the 2nd quarter worth approximately $81,000. Finally, GAMMA Investing LLC lifted its position in News by 18.8% in the 1st quarter. GAMMA Investing LLC now owns 3,392 shares of the company’s stock valued at $92,000 after acquiring an additional 537 shares in the last quarter. 14.63% of the stock is owned by institutional investors.

News Price Performance

Shares of NASDAQ:NWS opened at $27.88 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 77.44 and a beta of 1.37. The business has a 50-day simple moving average of $28.24 and a two-hundred day simple moving average of $27.35. News Co. has a fifty-two week low of $20.01 and a fifty-two week high of $29.59.

News (NASDAQ:NWS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. News had a net margin of 2.64% and a return on equity of 4.51%. The company had revenue of $2.58 billion for the quarter.

News Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be issued a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 11th. News’s payout ratio is currently 55.56%.

Analyst Ratings Changes

Separately, Loop Capital raised News to a “strong-buy” rating in a report on Tuesday, September 10th.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.